Accumulated Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Mar. 31, 2020

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule Of Accumulated Other Comprehensive Loss

The following table presents a reconciliation of the changes in the components of accumulated other comprehensive income (loss) and details the components of other comprehensive income (loss) for the three months ended March 31, 2020 and 2019, including the amount of income tax expense (benefit) allocated to each component of other comprehensive income (loss).

	Three Months Ended March 31,
(in millions)	2020			2019
Accumulated net unrealized gains (losses) on investment securities:
Balance at beginning of period, net of tax	$	65		$	(138	)
Net unrealized holding gains arising during the period	323			109
Less: Provision for income taxes	76			25
Net unrealized holding gains arising during the period, net of tax	247			84
Less:
Net realized losses included in net securities losses	—			(8		)
Less: Benefit for income taxes	—			(2		)
Reclassification adjustment for net securities losses included in net income, net of tax	—			(6		)
Change in net unrealized gains on investment securities, net of tax	247			90
Balance at end of period, net of tax	$	312		$	(48	)
Accumulated net gains on cash flow hedges:
Balance at beginning of period, net of tax	$	34		$	—
Net cash flow hedge gains arising during the period	205			4
Less: Provision for income taxes	48			1
Change in net cash flow hedge gains arising during the period, net of tax	157			3
Less:
Net cash flow hedge gains included in interest and fees on loans	3			—
Less: Provision for income taxes	1			—
Reclassification adjustment for net cash flow hedge gains included in net income, net of tax	2			—
Change in net cash flow hedge gains, net of tax	155			3
Balance at end of period, net of tax (a)	$	189		$	3
Accumulated defined benefit pension and other postretirement plans adjustment:
Balance at beginning of period, net of tax	$	(334	)	$	(471	)
Amortization of actuarial net loss	16			11
Amortization of prior service credit	(7		)	(7		)
Amounts recognized in other noninterest expenses	9			4
Less: Provision for income taxes	2			1
Change in defined benefit pension and other postretirement plans adjustment, net of tax	7			3
Balance at end of period, net of tax	$	(327	)	$	(468	)
Total accumulated other comprehensive income (loss) at end of period, net of tax	$	174		$	(513	)

(a)

The Corporation expects to reclassify $66 million of net gains, net of tax, from accumulated other comprehensive income to earnings over the next twelve months if interest yield curves and notional amounts remain at March 31, 2020 levels.